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You can sell your primary residence and avoid paying capital gains taxes on the first $250,000 of your profits if your tax-filing status is single, and up to $500,000 if married and filing jointly.
I encourage each of you, just as I do, to reach out to your legislators and encourage them to put forward needed changes to Ohio property tax law. Alan Harold was elected Stark County Auditor in 2010.
Ohio House Bill 140 calls for ballot language to be written in a way that would tell voters what levies would cost the owner of a home valued at $100,000 and how much the amount the tax would ...
The tax is computed as the determined market value times an assessment ratio times the tax rate. [10] Assessment ratios and tax rates vary among jurisdictions, and may vary by type of property within a jurisdiction. [11] Most jurisdictions' legislative bodies determine their assessment ratios and tax rates, though some states impose constraints ...
A primer to Ohio's property taxes. For premium support please call: 800-290-4726 more ways to reach us
The Ohio Department of Taxation is the administrative department of the Ohio state government [1] responsible for collection and administration of most state taxes, several local taxes and the oversight of real property taxation.
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region.
Under this example, a homeowner with income of $50,000 whose property tax was $3,000 would get the full $1,500 credit and end up paying a net $1,500 in property tax.